Starbucks Corporation has made a significant commitment to identify and grow investments in technologies in the food and retail industries through the newly established Valor Siren Ventures (VSV) fund having that focus. By investing in VSV Starbucks hopes to build external relationships that will support the company’s innovative agenda and leverage its wealth of talent.
The company has already committed $100 million to VSV, a firm managed by Valor Equity Partners, a private equity investment firm that was at the fore of funding food technology companies. Independently, VSV plans to raise an additional $300 million from other partners and investors.
Apart from investing in companies through VSV, Starbucks also hopes to create direct commercial arrangements with the supported start-ups, furthering the goal of growing and embracing new ideas and innovations that benefit consumers, partners, and their business.
“We believe that innovative ideas are fuel for the future, and we continue to build on this heritage inside our company across beverage, experiential retail, and our digital flywheel,” said Johnson in a press statement. “At the same time, and with an eye toward accelerating our innovation agenda, we are inspired by, and want to support the creative, entrepreneurial businesses of tomorrow with whom we may explore commercial relationships down the road.”
